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CHAMPIONS SCHOOL OF REAL ESTATE LAW OF AGENCY EXAM LATEST ACTUAL EXAM 3 VERSIONS COMPLETE 280 QUESTIONS AND CORRECT DETAILED SOLUTIONS $18.99   Add to cart

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CHAMPIONS SCHOOL OF REAL ESTATE LAW OF AGENCY EXAM LATEST ACTUAL EXAM 3 VERSIONS COMPLETE 280 QUESTIONS AND CORRECT DETAILED SOLUTIONS

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  • CHAMPIONS SCHOOL OF REAL ESTATE .
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  • CHAMPIONS SCHOOL OF REAL ESTATE .

CHAMPIONS SCHOOL OF REAL ESTATE LAW OF AGENCY EXAM LATEST ACTUAL EXAM 3 VERSIONS COMPLETE 280 QUESTIONS AND CORRECT DETAILED SOLUTIONS

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  • August 2, 2024
  • 55
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • CHAMPIONS SCHOOL OF REAL ESTATE .
  • CHAMPIONS SCHOOL OF REAL ESTATE .
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Page 1 of 55



CHAMPIONS SCHOOL OF REAL ESTATE LAW OF AGENCY EXAM
LATEST 2024-2025 ACTUAL EXAM 3 VERSIONS COMPLETE 280
QUESTIONS AND CORRECT DETAILED SOLUTIONS
CHAMPIONS SCHOOL OF REAL ESTATE LAW OF AGENCY EXAM


QUESTION: When an agent and potential party enter into a _____________discussion of a real

estate transaction, the party must be provided with a TREC- proscribed agency information

form. First contact/orally or written? - ANSWER-substantive




QUESTION: TREC rules define _______________as any form of communication on behalf of a

license holder designed to attract the public to use real estate brokerage services. - ANSWER-

Advertisement




QUESTION: If any person violates the provisions of the Texas Business and Commerce Code,

Fraud in Real Estate and Stock Transactions, he or she is liable to the person defrauded for: -

ANSWER-Attorney's fees, Expert witness fees and Court cost




QUESTION: According to TREC's advertising rules, which of the following terms may NOT be

used in a real estate team name? - ANSWER-Company




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QUESTION: The _______is usually a fixed percentage of the sales price negotiated between the

brokerage and the client, payable to the broker? - ANSWER-Broker's fee




QUESTION: Exclusive agency agreements - ANSWER-Grant the broker a commission even if the

seller sells the property himself.




QUESTION: The shared information from the MLS can be used by agents to prepare a? -

ANSWER-Comparative Market Analysis




QUESTION: The agreement that buyers sign, allowing a broker to represent them is called a? -

ANSWER-Buyer/Tenant Representation Agreement




QUESTION: Which of the following statements should a license holder only say AFTER a Buyer's

Representation Agreement has been signed? - ANSWER-My professional option is that the

market value of this property is $350,000.


I will write up the offer of 347,000 for you at my office.


It is my professional option that this house is overpriced for the neighborhood.




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QUESTION: The individual who, a series of uninterrupted activities or actions, brought about

the completion of a contract is also known as? - ANSWER-The procuring cause of sale




QUESTION: Why is timing critical when taking a listing? - ANSWER-There are time limits

attached to oral representation




QUESTION: Broker Susan is representing the seller and Broker Daniel is working with a buyer

customer. Susan is representing the seller. Who is Daniel representing? - ANSWER-The Buyer

only




QUESTION: In Texas, there is no_________agency relationship with any party to a transaction. -

ANSWER-Implied




QUESTION: The _________notifies the parties that both the seller and buyer are clients of the

broker. - ANSWER-Dual Agency Noitce




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QUESTION: Which of the following is true regarding Intermediary rules for a transaction? -

ANSWER-The transaction must be in-house sale.


Both sides of the transaction must be clients of the broker.


The broker must have written consent from both parties.




QUESTION: Broker Steve having no agents, is a solo practitioner in the state of Texas. He has a

buyer-client who wants to purchase one of his listings. The process that Broker Steve must us

is? - ANSWER-Intermediary without appointments




QUESTION: Which of the following is NOT an advantage of a brokerage policy of Seller Agency

Only- No Intermediary? - ANSWER-The broker does not have to make appointments.


The broker and agents are free to negotiate for the seller without conflict of interest.


The broker collects both selling and buying commission.




QUESTION: If one agent in the firm is working with both the buyer and the seller,___________

says that another agent in the firm needs to be brought into the transaction. - ANSWER-

Intermediary with appointments only




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